SunGard positions as bank-to-corporate messaging hub

SunGard is positioning itself as a central communications hub between banks, corporations and other trading partners with the launch of a technology 'ecosystem' linking users of its AvantGard treasury management system.

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A recent study conducted by SunGard confirms a pressing need for simplified connectivity between corporations and banks: 30% of the corporations surveyed grossing $5 billion or greater rely on more than 20 cash management banks.

 

The AvantGard EcoSystem Communication Service offers a single point of connectivity between bank and corporate users via common communication protocols. It is designed to provide a unified comms channel for bank account statements, wire transfers, treasury payments, accounts payable payment execution and cheque printing. The service also manages deal confirmations and matching over Accord, electronic bank account management, bank fee reporting via Twist, and mutual fund reporting.

 

SunGard says the community-based approach creates the infrastructure for the delivery of invoice and remittance advice and the ability to facilitate alternative financing via a bank or other exchange.

 

The launch is part of a broader strategy by the vendor to bring together the various entities within the corporate commercial ecosystem, with SunGard operating as a community leader.

 

Ken Dummitt, president of SunGard's corporations business. "It is clear that no one entity can provide all of the elements necessary to affect the fundamental shift required to bring efficiency to cash management. What the corporate commercial ecosystem needs, like any ecosystem, is a community leader. With the launch of the AvantGard EcoSystem Communication Service, SunGard is strongly positioned to provide that leadership by bringing together the network of participants for improved transparency, efficiency and connectivity."

Views an interview with Scott Coffing, COO of the Corporations Business at SunGard where he discusses the AvantGard EcoSystem Communications Services here.

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